Court Appeals Escalate as Celsius Challenges FTX Ruling on $444 Million Claim
by aria-crypto.com
January 3, 2025 at 08:39
Court Appeals Escalate as Celsius Challenges FTX Ruling on $444 Million Claim
Celsius has escalated its legal confrontation with FTX by appealing a court decision that dismissed a significant $444 million claim linked to alleged preferential transfers. This legal challenge stems from assertions by Celsius that certain actions and comments by FTX officials hastened its financial downfall. Initially, Celsius sought $2 billion citing disparaging remarks by FTX, but refocused the claim on preferential transfers after modifying their filing. The appeal follows Judge John T. Dorsey's rejection of the revised claim, which he deemed procedurally improper and potentially prejudicial to FTX's restructuring efforts. The court critiqued the amended claim for its untimely filing and lack of connection to the original allegations. Celsius maintains that its actions were in compliance with bankruptcy codes and necessary to preserve the validity of their claims throughout the proceedings. This next legal phase will scrutinize whether Celsius' original and amended filings were sufficient and lawful under the required legal standards, with significant financial implications hanging in the balance for all involved parties.
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